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🏢 Just listed — Motel Hospitality for sale in Las Cruces, NM.

📍 2255 West Picacho Avenue, Las Cruces, NM
🏷  Motel Hospitality · For Sale
💰 $1.63M

Hospitality | 57 Keys

<ul><li>Long Term Ownership - First time on the Market since 1983</li><li>Potential to Reposition the Property to 57 Rental Units</li><li>Competitively Priced to Sell as a Motel</li><li>Conversion to Permanent Housing has been experienced in the local m

Full financials, photos, and broker contact:
https://commrty.com/property/new-mexico/las-cruces/2255-west-picacho-ave-2501415-for-sale?utm_source=linkedin&utm_medium=share&utm_campaign=pdp&utm_content=2255-west-picacho-ave-2501415

#LasCruces #Hospitality #CommercialRealEstate #CRE #Investment

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Home/NM/Las Cruces

2255 West Picacho Avenue

Las Cruces, NM 88007

Asking Price

$1.63M

Asset Type

Motel Hospitality

Class

Class B

What's Special

Hospitality | 57 Keys <ul><li>Long Term Ownership - First time on the Market since 1983</li><li>Potential to Reposition the Property to 57 Rental Units</li><li>Competitively Priced to Sell as a Motel</li><li>Conversion to Permanent Housing has been experienced in the local market</li><li>15.8% Pro Forma CAP Rate</li></ul>

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Purchase Price ($)

Down Payment (%)Interest Rate (%)

Amortization (years)Annual Gross Income ($)Annual Expenses ($)

NOI

$80,000

Cap Rate

4.92%

DSCR

0.83

Underwater

Cash-on-Cash

-3.38%

Monthly Payment

$8,039.613

Annual Cash Flow

$-16,475.36

Location & Travel Times

Similar Properties Nearby

📍

$5.50M

Class B | Hotel

1765 S Main St, Las Cruces, NM 88005

Listed by Owner · For Sale